Stephen Smith, Director, Legal & General Housing Partnerships:
“The Chancellor’s decision to clamp down on the unjustifiable fees charged by lettings agents will undoubtedly be welcomed nationwide. Renters from every walk of life, be it students, young couples or professionals starting their careers will be relieved by Hammond’s decisive action today. The removal of these punitive fees will help to alleviate some of the financial pressures tenants have suffered whilst trying to find affordable, quality homes to rent.
“Contrary to initial speculation, the implementation of this policy in Scotland in 2012 does not seem to have had a negative impact either on rents or on the availability of private rented accommodation. We therefore hope the roll out in England and Wales will be as successful. Across the UK, the private rental sector is a hugely important housing tenure that provides homes for hundreds of thousands of people from all walks of life. This decision will help to give power back to these tenants and remove some of the financial sting of renting.”